Question
firm net profit margin was 6% with its $300,000 net sales last year. Its interest income was $20,000 and interest expense was $40,000. If its
firm net profit margin was 6% with its $300,000 net sales last year. Its interest income was $20,000 and interest expense was $40,000. If its average tax rate was 40%, what was the firms operating income last year?
A. $40,000
B. $20,000
C. $60,000
D. $50,000
E. $30,000
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Financial Management Core Concepts
Authors: Raymond Brooks
3rd Edition
0133866742, 9780133866742
